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Acemoglu, Daron; Shimer, Robert - 2021

This paper constructs a tractable general equilibrium model of search with risk-aversion. An increase in risk … hazard: insured workers seek high wage jobs with high unemployment risk. An economy with risk-neutral workers achieves … maximal output without any UI. In contrast, in an economy with risk-averse workers, a positive level of UI maximizes output …

Persistent link: https://www.econbiz.de/10013234055

Robots and Jobs : Evidence from Us Labor Markets

Acemoglu, Daron - 2017

As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing concern about the future of jobs and wages. We analyze the effect of the increase in industrial robot usage between 1990 and 2007 on US local labor markets. Using a model in...

Persistent link: https://www.econbiz.de/10012960156

Networks, Shocks, and Systemic Risk

Acemoglu, Daron - 2015

macroeconomic risk originating from microeconomic shocks, and models of financial interactions. Under the assumption that shocks are … literature on the role of network linkages in fostering systemic risk …

Persistent link: https://www.econbiz.de/10013028546

Institutions, Human Capital and Development

Acemoglu, Daron - 2016

In this paper we revisit the relationship between institutions, human capital and development. We argue that empirical models that treat institutions and human capital as exogenous are misspecified both because of the usual omitted variable bias problems and because of differential measurement...

Persistent link: https://www.econbiz.de/10013006662

Transition to Clean Technology

Acemoglu, Daron - 2015

US energy sector. The model's quantitative implications match a range of moments not targeted in the estimation quite …

Persistent link: https://www.econbiz.de/10013031480

Democracy, Redistribution and Inequality

Acemoglu, Daron - 2013

In this paper we revisit the relationship between democracy, redistribution and inequality. We first explain the theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this expectation may fail to be realized when democracy is captured by the...

Persistent link: https://www.econbiz.de/10013071520

Democracy Does Cause Growth

Acemoglu, Daron - 2014

We provide evidence that democracy has a significant and robust positive effect on GDP. Our empirical strategy relies on a dichotomous measure of democracy coded from several sources to reduce measurement error and controls for country fixed effects and the rich dynamics of GDP, which otherwise...

Persistent link: https://www.econbiz.de/10013056591

How Large are the Social Returns to Education? Evidence from Compulsory Schooling Laws

Acemoglu, Daron; Angrist, Joshua D. - 2022

Average schooling in US states is highly correlated with state wage levels, even after controlling for the direct effect of schooling on individual wages. We use an instrumental variables strategy to determine whether this relationship is driven by social returns to education. The instrumentals...

Persistent link: https://www.econbiz.de/10013322326

Reevaluating the Modernization Hypothesis

Acemoglu, Daron; Johnson, Simon; Robinson, James A.; … - 2021

This paper revisits and critically reevaluates the widely-accepted modernization hypothesis which claims that per capita income causes the creation and the consolidation of democracy. We argue that existing studies find support for this hypothesis because they fail to control for the presence of...

Persistent link: https://www.econbiz.de/10013224429

Changes in the Wage Structure, Family Income, and Children'S Education

Acemoglu, Daron; Pischke, Jörn-Steffen - 2021

We exploit the changes in the distribution of family income to estimate the effect of parental resources on college education. Our strategy exploits the fact that families at the bottom of the income distribution were much poorer in the 1990s than they were in the 1970s, while the opposite is...

Persistent link: https://www.econbiz.de/10013230970